&w=3840&q=100)
Sun Pharma gains on US launch of Leqselvi, analysts see strong upside
Ram Prasad Sahu
Listen to This Article
India's largest drug maker, Sun Pharmaceutical Industries (Sun), gained 2.7 per cent on Tuesday and was the highest gainer among Sensex stocks. The gains followed the company's settlement and licence agreement with Incyte Corporation regarding litigation over its hair-loss drug, Leqselvi (Deuruxolitinib). Sun has now launched the specialty product in the US market.
The settlement grants Sun a limited, non-exclusive licence to US patents covering the drug for non-oncology indications. This includes alopecia areata, an auto-immune disease that causes hair loss.
While financial terms have not been disclosed, Sun will make an upfront payment and ongoing royalties to Incyte in
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Hindu
26 minutes ago
- The Hindu
Stock markets fall for second day; Sensex tanks 721 points
Stock markets declined for the second day in a row on Friday (July 25, 2025), with the Sensex tumbling 721 points due to heavy selling in financial, IT and oil & gas shares amid persistent foreign fund outflows. The 30-share BSE Sensex tanked 721.08 points or 0.88 per cent to settle at over a month's low of 81,463.09. During the day, it plunged 786.48 points or 0.95 per cent to 81,397.69. The 50-share NSE Nifty dropped 225.10 points or 0.90 per cent to a month's low of 24,837. Analysts said a weak trend in Asian and European markets also dented investors' sentiment. Vinod Nair, Head of Research, Geojit Investments Limited, said, "Subdued corporate results and lacklustre global cues triggered a broad-based sell-off across domestic equities. Elevated valuations in large-cap stocks, coupled with significant net short positions held by FIIs, added to the downward pressure." Among Sensex firms, Bajaj Finance declined 4.73 per cent post its June quarter earnings announcement. Power Grid, Infosys, Tech Mahindra, Bajaj Finserv, Trent, Tata Motors, NTPC and Adani Ports were also among the laggards. However, Sun Pharma and Bharti Airtel emerged as gainers. Foreign Institutional Investors (FIIs) offloaded equities worth ₹2,133.69 crore on Thursday, according to exchange data. However, Domestic Institutional Investors (DIIs) bought stocks worth ₹2,617.14 crore. In Asian markets, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng settled lower while South Korea's Kospi ended in positive territory.. European markets were trading lower. The U.S. markets ended on a mixed note on Thursday (July 24). India and the U.K. signed a landmark free trade agreement on Thursday, which, starting next year, will see 99 per cent of Indian exports enter the UK duty-free, while reducing tariffs on British products such as cars and whisky. The deal, which comes days ahead of the US moratorium on higher tariffs coming to an end, aims to double the USD 56 billion trade between the world's fifth and sixth largest economies by 2030. Global oil benchmark Brent crude climbed 0.32 per cent to USD 69.40 a barrel. On Thursday, the Sensex tanked 542.47 points or 0.66 per cent to settle at 82,184.17. The Nifty dropped 157.80 points or 0.63 per cent to 25,062.10.
Mint
28 minutes ago
- Mint
Sensex drops 732 points; investors lose ₹6.5 lakh crore in a day— 10 key highlights from the Indian stock market today
The Indian stock market ended with significant losses for the second consecutive session on Friday, July 25. The Sensex closed 721 points, or 0.88 per cent, down at 81,463.09, while the Nifty 50 settled 225 points, or 0.90 per cent, lower at 24,837. The market saw an overall sell-off, and the mid- and small-cap segments ended with even deeper losses. The BSE Midcap index declined 1.46 per cent, while the Smallcap index crashed 1.88 per cent. Investors lost nearly ₹ 6.5 lakh crore in a single day as the cumulative market capitalisation of BSE-listed firms dropped to nearly ₹ 451.7 lakh crore from ₹ 458.11 lakh crore in the previous session. Weak earnings, delayed India-US trade deal, relentless foreign capital outflow amid stretched valuation of the domestic market are the key factors behind the market's downtrend. "Subdued corporate results and lacklustre global cues triggered a broad-based sell-off across domestic equities. Elevated valuations in large-cap stocks, coupled with significant net short positions held by FIIs, added to the downward pressure," Vinod Nair, Head of Research, Geojit Investments, observed. "Investor sentiment remained fragile amid ongoing uncertainty over US-India tariff negotiations and the ECB maintaining the status quo, with rate cuts deferred until clearer insights emerge on the inflationary impact of trade developments. Moderation in DII inflows after the strong buying of the last two to three months, due to a muted earnings season and persistent FII selling, continues to impact the current market," said Nair. Only seven stocks managed to end in the green in the Nifty 50 index, among which Cipla (up 3.17 per cent), SBI Life Insurance Company (up 2.07 per cent), and Apollo Hospitals (up 1.50 per cent) stood at the top. Shares of Bajaj Finance (down 4.81 per cent), Shriram Finance (down 3.64 per cent), and IndusInd Bank (down 2.64 per cent) ended as the top losers in the index. Barring Nifty Healthcare (up 0.69 per cent) and Pharma (up 0.54 per cent), all sectoral indices ended with losses, with Media (down 2.61 per cent), Oil & Gas (down 1.96 per cent), PSU Bank (down 1.70 per cent), and Metal (down 1.64 per cent) losing heavily. Nifty Bank dropped 0.94 per cent, while the Financial Services ended 0.88 per cent lower. Jayaswal Neco Industries (34.72 crore shares), Vodafone Idea (23.83 crore shares), and Ola Electric Mobility (13.61 crore shares) were the most active stocks in terms of volume on the NSE. Defying weak market sentiment, 15 stocks, including The Phosphate Company, Aashka Hospitals, Sharda Cropchem, Kellton Tech Solutions, Sharika Enterprises, and Vimta Labs, surged over 10 per cent on the BSE. B-Right Realestate, Eighty Jewellers, Jonjua Overseas, and Hexaware Technologies were among the seven stocks that crashed more than 10 per cent on the BSE. Out of 4,154 stocks traded on the BSE, 1,116 advanced, while 2,893 declined. Some 145 stocks remained unchanged. While the stock market ended with significant losses, as many as 111 stocks, including ICICI Bank, eClerx Services, Home First Finance Company India, Laurus Labs, Sai Life Sciences, Shyam Metalics and Energy, and Torrent Pharmaceuticals, hit their 52-week highs in intraday trade. Praveen Dwarakanath, Vice President of pointed out that the Nifty sharply fell from its resistance of 25,200 and closed near its support at 24,800, indicating a possible bounce in the index from the current level. Dwarakanath further highlighted that the index has closed near the lower Bollinger band, a support from which can push the index upside. The momentum indicators in today's fall have entered the oversold region, which can also push the markets upward from current levels. Dwarakanath also said the index is at a strong weekly buy level between 24,600 and 24,800. A bounce from this level can present a strong selling opportunity near the 25,200 levels. Read all market-related news here Read more stories by Nishant Kumar
Time of India
40 minutes ago
- Time of India
Sensex set to hit 115,836 by FY28 on earnings momentum: Ventura
Sensex could surge to 115,836 by fiscal 2028 in a bullish scenario, supported by steady earnings growth and macroeconomic resilience, according to Ventura Securities . The brokerage forecasted the Nifty 50 climbing to 43,876 over the same period, with a projected FY28 earnings per share (EPS) compound annual growth rate of 12-14%. Ventura valued the Indian benchmarks at a price-to-earnings (PE) multiple of 21 times under a bull case and 19 times under a bear case. The brokerage pegged Sensex EPS at 5,516 and Nifty 50 EPS at 2,089 by FY28. In its bear case projection, Ventura expects Sensex to touch 104,804 and Nifty 50 to reach 39,697. Explore courses from Top Institutes in Please select course: Select a Course Category CXO Data Science Degree Digital Marketing Project Management Design Thinking Product Management MBA Management Finance Public Policy Others Data Science Leadership others Operations Management Data Analytics Cybersecurity Skills you'll gain: Digital Strategy Development Expertise Emerging Technologies & Digital Trends Data-driven Decision Making Leadership in the Digital Age Duration: 40 Weeks Indian School of Business ISB Chief Digital Officer Starts on Jun 30, 2024 Get Details Skills you'll gain: Technology Strategy & Innovation Emerging Technologies & Digital Transformation Leadership in Technology Management Cybersecurity & Risk Management Duration: 24 Weeks Indian School of Business ISB Chief Technology Officer Starts on Jun 28, 2024 Get Details Skills you'll gain: Customer-Centricity & Brand Strategy Product Marketing, Distribution, & Analytics Digital Strategies & Innovation Skills Leadership Insights & AI Integration Expertise Duration: 10 Months IIM Kozhikode IIMK Chief Marketing and Growth Officer Starts on Apr 7, 2024 Get Details by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Learn The Most Successful Intraday Strategy in Just 2 Hr. thefutureuniversity Learn More Undo Sectoral strength drives Q1 momentum As of mid-Q1FY26, 159 companies have reported results showing broad-based growth. Engineering, manufacturing and services sectors led the gains, while consumption, commodities and pharma delivered steady performances. Positive earnings surprises in BFSI, IT, healthcare and logistics point to a resilient corporate earnings season. India remains the 'world's most promising investment destination,' Ventura said, citing GDP growth of 6.5%, moderate debt levels with an 80% debt-to-GDP ratio, and stable bond yields. The brokerage noted that while advanced economies like the U.S. and Japan grapple with high debt and slowing growth, India's demographic advantage and structural reforms make it a magnet for global capital. 'In the last 10 years, Indian economy has demonstrated resilience and clocked highest GDP growth as a large economy despite global headwinds of NBFC crisis, Covid 19, Russia-Ukraine war and the recent uncertainty on Trump tariff,' said Vinit Bolinjkar, head of research at Ventura. 'The risk mitigation influencers will outweigh the current challenges which will usher Indian GDP growth to 7.3% by FY30(E).' Live Events Long-term fundamentals and risks Ventura highlighted India's ability to withstand past economic shocks, from demonetization and GST rollout to the NBFC crisis and the COVID-19 pandemic. Strategic developments such as the Andaman oil discovery, gold monetization initiatives and a multipronged national security strategy are expected to bolster India's long-term fundamentals. While challenges persist, Ventura said it believes the market has yet to fully price in these structural shifts. Growing forex reserves, sustainable debt levels and the potential for lower long-term interest rates point to a more favourable investment environment in the years ahead. Also read | Reliance Power shares down 15% in a month as ED probe drags. Can the stock reclaim Rs 70 amid volatility?
